logo
Zelenskyy signs law on free trade with European partners

Zelenskyy signs law on free trade with European partners

Yahoo21-05-2025
Ukrainian President Volodymyr Zelenskyy has signed a law on pan-Euro-Mediterranean preferential rules of origin for goods.
Source: Interfax-Ukraine
Quote: "Ukrainian President Volodymyr Zelenskyy has signed a law ratifying Decision No. 2/2024 of the Joint Committee of the Regional Convention on Pan-Euro-Mediterranean Preferential Rules of Origin."
Details: As the Ukrainian parliament's press service reported on Telegram, this law's entry into force will allow Ukraine to trade freely with its European partners during the transition to the updated rules of the Convention, which are being applied from 1 January 2025.
According to the Convention, countries may apply the old and new (updated) rules of origin for goods in parallel until the end of 2025.
Old certificates (valid until 1 January 2025 or 2026) remain valid if the goods are still in transit or under customs control.
Certificates issued under the new rules must bear the words "REVISED RULES". Countries must regularly inform each other of updates to their rules.
"This will allow Ukrainian exporters to maintain continuity of trade with the EU and adapt more easily to the new requirements," the parliament's press service said.
Background:
Earlier, it was reported that on 13 May 2024, the Council of the European Union approved the suspension of import duties and quotas on Ukrainian exports to the EU for another year.
Unlike similar decisions in the previous two years, this year, in view of farmers' protests, the EU decided to continue duty-free trade with Ukraine, but with restrictions.
It was also reported that Ukraine exported goods worth US$41.627 billion in 2024, which is US$5.44 billion, or 15% more than in 2023. In terms of weight, exports amounted to 131.179 million tonnes, which is 30.8 million tonnes more, or an increase of 30.8%. Imports also increased by 8.6% to US$69 billion.
Support Ukrainska Pravda on Patreon!
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

EMCOR Group (EME) Sees EPS Surge as Net Income Climbs to US$241 Million
EMCOR Group (EME) Sees EPS Surge as Net Income Climbs to US$241 Million

Yahoo

time8 minutes ago

  • Yahoo

EMCOR Group (EME) Sees EPS Surge as Net Income Climbs to US$241 Million

EMCOR Group recently announced a regular quarterly cash dividend of $0.25 per common share, to be paid on July 31, 2025. This steady dividend approach aligns with the company's robust quarterly performance, which saw net income rise to $241 million and EPS increase substantially year-over-year. Additionally, the ongoing share buyback program has strengthened shareholder returns. Despite the broader market's moderate growth of 1.4% over the past week and 17% over the past year, EMCOR's notable share repurchases and solid financial outcomes appear to have amplified investor confidence, contributing to the company's impressive 55% stock price surge last quarter. We've spotted 1 risk for EMCOR Group you should be aware of. Trump has pledged to "unleash" American oil and gas and these 22 US stocks have developments that are poised to benefit. EMCOR Group's recent announcement of a quarterly dividend and the implementation of its share buyback program underline its commitment to enhancing shareholder returns. Despite a potential downside to the current share price of US$635.06, which exceeds the consensus analyst price target of US$549.57 by 13.46%, these actions could continue to buoy investor confidence. The company's performance over the past five years, with a total return exceeding 844.60%, showcases its robust long-term trajectory. In the last year, EMCOR's share performance exceeded both the broader market's 17.2% and the US Construction industry's 54.2% return, highlighting its strong standing relative to peers. The successful integration of acquisitions and strategic diversification into sectors like data centers and healthcare is anticipated to impact future revenue positively. This, coupled with operational efficiencies and strong revenue collaboration, may reinforce earnings projections. However, EMCOR's earnings forecasts of a 6.2% annual growth rate lag behind the broader market's 14.9% forecast, which could present challenges in meeting broader industry expectations. The company's impressive share price rise of 55% last quarter signals optimism, though its current value being above the target may indicate overvaluation concerns. Nevertheless, the consistent cash flow and healthy margins underscore its potential resilience against margin pressures, supply chain challenges, and other economic uncertainties. As analysts estimate revenue growth to 7.9% annually over the next three years, any tangible improvement in operational metrics could shift the valuation outlook positively. Unlock comprehensive insights into our analysis of EMCOR Group stock in this financial health report. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include EME. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

US migrant raids spark boom for private detention providers
US migrant raids spark boom for private detention providers

Yahoo

time8 minutes ago

  • Yahoo

US migrant raids spark boom for private detention providers

Donald Trump's promise to carry out the largest deportation operation in US history has appalled some Americans. But others are cashing in on the boom in demand for private detention centers. Migrants captured by Immigration and Customs Enforcement agents need to be temporarily housed in places like the facility being readied in California City, prior to deportation. "When you talk to the majority of residents here, they have a favorable perspective on it," said Marquette Hawkins, mayor of the hardscrabble settlement of 15,000 people, 100 miles (160 kilometres) north of Los Angeles. "They look at the economic impact, right?" California City is to be home to a sprawling detention center that will be operated by CoreCivic, one of the largest companies in the private detention sector. The company, which declined AFP requests for an interview, says the facility would generate around 500 jobs, and funnel $2 million in tax revenue to the city. "Many of our residents have already been hired out there to work in that facility," Hawkins told AFP. "Any revenue source that is going to assist the town in rebuilding itself, rebranding itself, is going to be seen as a plus," he said. - Boom - Trump's ramped-up immigration arrests, like those that provoked protests in Los Angeles, saw a record 60,000 people in detention in June, according to ICE figures. Those same figures show the vast majority have no conviction, despite the president's election campaign promises to go after hardened criminals. More than 80 percent of detainees are in facilities run by the private sector, according to the TRAC project at Syracuse University. And with Washington's directive to triple the number of daily arrests -- and $45 billion earmarked for new detention centers -- the sector is looking at an unprecedented boom. "Never in our 42-year company history have we had so much activity and demand for our services as we are seeing right now," Damon Hininger, executive director of CoreCivic, said in a May call with investors. When Trump took office in January, some 107 centers were operating. The number now hovers around 200. For Democratic politicians, this proliferation is intentional. "Private prison companies are profiting from human suffering, and Republicans are allowing them to get away with it," Congresswoman Norma Torres told reporters outside a detention center in the southern California city of Adelanto. At the start of the year, there were three people detained there; there are now hundreds, each one of them attracting a daily stipend of taxpayer cash for the operator. Torres was refused permission to visit the facility, run by the privately owned GEO Group, because she had not given seven days' notice, she said. "Denying members of Congress access to private detention facilities like Adelanto isn't just disrespectful, it is dangerous, it is illegal, and it is a desperate attempt to hide the abuse happening behind these walls," she said. "We've heard the horrifying stories of detainees being violently arrested, denied basic medical care, isolated for days, and left injured without treatment," she added. Kristen Hunsberger, a staff attorney at the Law Center for Immigrant Advocates, said one client complained of having to wait "six or seven hours to get clean water." It is "not sanitary and certainly not... in compliance with just basic human rights." Hunsberger, who spends hours on the road going from one center to another to locate her clients, says many have been denied access to legal counsel, a constitutional right in the United States. Both GEO and ICE have denied allegations of mistreatment at the detention centers. "Claims there is overcrowding or subprime conditions in ICE facilities are categorically FALSE," said Tricia McLaughlin, the assistant secretary at the Department of Homeland Security. "All detainees are provided with proper meals, medical treatment and have opportunities to communicate with their family members and lawyers." - 'Strategy' - But some relatives of detainees tell a different story. Alejandra Morales, an American citizen, said her undocumented husband was detained incommunicado for five days in Los Angeles before being transferred to Adelanto. In the Los Angeles facility, "they don't even let them brush their teeth, they don't let them bathe, nothing. They have them all sleeping on the floor, in a cell, all together," she said. Hunsberger said that for detainees and their relatives, the treatment appears to be deliberate. "They're starting to feel that this is a strategy to wear people down, to have them in these inhumane conditions, and then pressure them to sign something where they could then agree to being deported," she said. pr/hg/ksb

Famed market bear Albert Edwards warns of an 'everything bubble' in US stocks and home prices that could soon pop
Famed market bear Albert Edwards warns of an 'everything bubble' in US stocks and home prices that could soon pop

Yahoo

time8 minutes ago

  • Yahoo

Famed market bear Albert Edwards warns of an 'everything bubble' in US stocks and home prices that could soon pop

Albert Edwards warns of a potential US stock and housing market bubble. Rising interest rates and Japan's fiscal concerns could trigger market corrections, he said. Edwards publishes his notes under Société Générale's "alternative view." Société Générale's Albert Edwards, famed for calling the dot-com bubble leading up to the 2000 crash, is again warning investors of a potentially painful plunge ahead. In his latest note to clients this week, Edwards said US stocks and home prices are in an "everything bubble" that he thinks could soon pop. Stock valuations are indeed steep. The Shiller cyclically-adjusted price-to-earnings ratio sits at 38, one of its highest levels ever, and both the trailing and forward 12-month PE ratios of the S&P 500 are historically high. To Edwards, this doesn't sit well with the fact that long-term interest rates have been on the rise. Rising long-end government bond yields tend to weigh on stock-market valuations as investors can find attractive returns without taking on the high level of risk in the stock market. Yet US stocks have seen a robust rally in recent years, gaining 78% since October 2022 lows. The market's high valuations have kept future estimated equity-market yields low. When stocks are more cheaply valued, they can expect higher future returns, and vice versa. "It is notable how the US equity market has been able to sustain nose-bleed high valuations despite longer bond yields grinding higher," Edwards wrote. "I don't expect it'll be able to ignore it much longer." On housing, Edwards said that the home price-to-income ratio in the US has been virtually flat over the last few years following the pandemic bump, while the ratio has dropped in countries like the UK and France. "The US is the only market in which house price/income ratios have NOT de-rated since 2022 as bond yields have risen. Is the US housing market also exceptional relative to Europe? No, it's nonsense and, in time, investors will come to claim they knew that all along," Edwards wrote. As for what could cause the potential bubbles in US stocks and home prices to burst, Edwards said to watch Japan. "In the wake of the ruling party coalition losing its Upper House majority, concerns in the bond market about the risks of further fiscal easing and high inflation are growing," he wrote. Higher inflation in Japan could mean higher interest rates and a further unwinding of the Japanese yen carry trade, in which foreign investors borrowed cheaply in yen and converted to dollars to buy higher-yielding US assets. In 2024, the Bank of Japan unexpectedly hiked rates, roiling global markets as investors liquidated assets they had bought with borrowed yen. In May, Edwards warned rising interest rates in Japan could cause a "global financial Armageddon." Edwards publishes his notes, which regularly express a bearish outlook, under Société Générale's "alternative view," separate from the bank's house view. "A lot of clients who totally disagree with me like to read my stuff," he told Business Insider in May. "It's a reality check." Read the original article on Business Insider

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store